Barclays Maintains Illumina (ILMN) Underweight Recommendation

Fintel reports that on September 29, 2023, Barclays maintained coverage of Illumina (NASDAQ:ILMN) with a Underweight recommendation.

Analyst Price Forecast Suggests 64.59% Upside

As of August 31, 2023, the average one-year price target for Illumina is 217.83. The forecasts range from a low of 136.35 to a high of $345.45. The average price target represents an increase of 64.59% from its latest reported closing price of 132.35.

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The projected annual revenue for Illumina is 5,111MM, an increase of 14.57%. The projected annual non-GAAP EPS is 3.12.

What is the Fund Sentiment?

There are 1724 funds or institutions reporting positions in Illumina. This is a decrease of 66 owner(s) or 3.69% in the last quarter. Average portfolio weight of all funds dedicated to ILMN is 0.34%, a decrease of 9.36%. Total shares owned by institutions increased in the last three months by 4.57% to 167,123K shares. The put/call ratio of ILMN is 0.74, indicating a bullish outlook.

What are Other Shareholders Doing?

Baillie Gifford holds 13,973K shares representing 8.83% ownership of the company. In it's prior filing, the firm reported owning 15,073K shares, representing a decrease of 7.87%. The firm decreased its portfolio allocation in ILMN by 29.59% over the last quarter.

Edgewood Management holds 5,573K shares representing 3.52% ownership of the company. In it's prior filing, the firm reported owning 5,444K shares, representing an increase of 2.32%. The firm decreased its portfolio allocation in ILMN by 21.83% over the last quarter.

Wellington Management Group Llp holds 5,276K shares representing 3.33% ownership of the company. In it's prior filing, the firm reported owning 4,482K shares, representing an increase of 15.04%. The firm decreased its portfolio allocation in ILMN by 9.45% over the last quarter.

Polen Capital Management holds 5,097K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 5,082K shares, representing an increase of 0.29%. The firm decreased its portfolio allocation in ILMN by 23.96% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,930K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 4,890K shares, representing an increase of 0.81%. The firm decreased its portfolio allocation in ILMN by 25.01% over the last quarter.

Illumina Background Information
(This description is provided by the company.)

Illumina is improving human health by unlocking the power of the genome. Its focus on innovation has established it as the global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. The Company products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.

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This story originally appeared on Fintel.

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